News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Merus Labs International Inc. : Completes $20 Million Bought Deal Financing


3/25/2014 7:10:00 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

Merus Labs International Inc.: Completes $20 Million Bought Deal Financing

TORONTO, ONTARIO--(Marketwired - Mar 25, 2014) - Merus Labs International Inc. ("Merus" or the "Company") (MSL.TO)(MSLI) is pleased to announce today the closing of its previously announced bought deal financing with a syndicate of investment dealers (the "Underwriters"). Under the financing, Merus issued 11,765,000 common shares ("Shares") at a price of $1.70 per Share, for gross proceeds of $20,000,500.

The net proceeds of the offering will be used for future acquisitions and general working capital. The Underwriters will have the option, exercisable until April 24, 2014, to acquire up to an aggregate of 1,764,750 Shares at a price of $1.70 per Share, for additional gross proceeds of up to $3,000,075, to cover over-allotments, if any.

The Shares have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such officer, solicitation or sale would be unlawful.

About Merus Labs International Inc.

Merus is a specialty pharmaceutical company engaged in the acquisition and licensing of pharmaceutical products. The Company utilizes its expertise in pharmaceutical markets and its access to capital to acquire and license niche branded products. Merus further enhances the sale and distribution of these products by the introduction of a focused marketing and promotion plan.

Cautionary Statement

Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of Section 21E (i) (1) of the United States Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Merus' actual results to be materially different from any future results expressed or implied by these statements. Such factors include the following: general economic and business conditions, changes in demand for Merus' products, changes in competition, the ability of Merus to integrate acquisitions or complete future acquisitions, Merus' ability to complete any financing under its short form prospectus or otherwise, interest rate fluctuations, currency exchange rate fluctuations, dependence upon and availability of qualified personnel and changes in government regulation. In light of these and other uncertainties, the forward-looking statements included in this press release should not be regarded as a representation by Merus that Merus' plans and objectives will be achieved. These forward-looking statements speak only as of the date of this press release, and we undertake no obligation to update or revise the statements.

Contact:

Merus Labs International Inc.
(416) 593-3725
Investor Relations Department
info@meruslabs.com

Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES